RBA caps interchange fees and surcharges
Reserve Bank of Australia completes two-year card review
The Reserve Bank of Australia (RBA) announced new caps on interchange fees and surcharges today (May 26), as part of its efforts to build "a more efficient and competitive payments system".
After a two-year process of consultation, analysis and interviews with interested parties, the RBA published this final review of card payments regulation. It is principally concerned with the fees charged by banks and merchants for processing transactions, as well as "competitive neutrality" in the sector.
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